Large Model Concept Stocks Watch | GLM-5.2 Model Positions Itself by Opening to All Users; Zhipu (02513.HK) Records a Two-Day Share Price Gain of Over 35%

NewTimeSpace (newtimespace.com) News, On June 16, 2026, Zhipu (02513.HK) continued to push higher during morning trading. As of 9:33 AM, the company's share price was quoted at HK$1,510.000, up 3.64%. Choice data shows that Zhipu's share price skyrocketed yesterday, closing with a gain of 32.82%, bringing its cumulative share price gain over the past two days to over 35%.

On the news front, on June 12, the US AI company Anthropic was forced to suspend access to its latest and most powerful models, Claude Fable 5 and Mythos 5, for all clients due to an emergency export control directive from the US government. On June 13, Zhipu swiftly and officially announced that its domestic large model, GLM-5.2, would be fully opened to all users of the GLM Coding Plan.

Zhipu stated that GLM-5.2, which is now fully accessible, is its most capable open-source model to date, supporting a truly usable 1M context window and maintaining a leading edge in long-horizon coding tasks.

Wanlian Securities expressed that with the continuous iterative upgrades of domestic large models' capabilities and the broadening and deepening of application scenarios, user recognition is poised to further elevate, driving the continuous growth of AI large model token invocation volumes. Leading vendors are all consistently refining their product capabilities and optimizing their ecosystem layouts around the "token economics," while accelerating their commercialization explorations. It is recommended to continue monitoring the accelerated pace of AI application commercialization. From a medium-to-long-term perspective, investors should continue focusing on the two major investment themes: the AI industry and the data industry.

Hong Kong-listed Large Model Concept Stocks:

KNOWLEDGE ATLAS (02513.HK)

Knowledge Atlas Technology Joint Stock Company Limited (02513.HK; commercially known as Zhipu AI) is a leading player in China's independent large language model (LLM) sector (recognized for its capabilities and market position by Frost & Sullivan). The company has released its next-generation flagship model, GLM-5, achieving open-source State-of-the-Art (SOTA) performance in coding and agentic capabilities. It has also open-sourced the multimodal image generation model GLM-Image in collaboration with Huawei. Focusing on novel model architecture design, generalized reinforcement learning paradigms, and autonomous model evolution, its business layout closely aligns with the trend of enterprise-level AI productivity transformation.

MINIMAX-W (00100.HK)

A top-tier player dedicated to omni-modal Artificial General Intelligence (AGI). The company continuously iterates its video generation model matrix and has partnered with mainstream domestic and overseas chip manufacturers and inference platforms to complete underlying adaptations. The total monthly active users (MAU) of its B2C and B2B LLM applications, along with multimodal API call volumes, maintain rapid growth, further broadening its computing power ecological layout.

MININGLAMP-W (02718.HK)

As an LLM concept stock, the company fully underpins its Agentic AI positioning with its self-developed edge models—Mano, Cito, and Mano-P—alongside the Cider inference framework. Its business architecture utilizes the DeepMiner LLM as the underlying engine and Octo as the collaborative hub, uniformly delivering various AI products and industry solutions in the form of Agentic Services. Mininglamp pursues a differentiated technological route, bypassing the parameter expansion of general models in favor of a "Scaling Out" approach that coordinates multiple specialized small models. Its core moats do not rely on parameter scale, but rather on granular scenario data, specialized models, and continuous learning. This enables it to achieve a level of precision in vertical scenarios that general models cannot match, as it remains committed to building an open-source, privately deployable, and white-box auditable Private AI infrastructure.

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